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19 Cards in this Set
- Front
- Back
- 3rd side (hint)
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Land Description
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1.Metes and Bounds
2.Rectangular / govt Survey 3.Recorded Plat |
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Real Estate Measurements
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Perimeter (distance around)
Acre = 43,650 square Feet Section = 640 Acres Acre = 1mile x 1Mile |
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Land Elements
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Surface Rights
Sub-Surface Rights Air Rights |
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Improvements
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Items affixed to the land with the intent of being permanant - house,fence,road,landscaping
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Improvement Location Certificate
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(ILC) used to locate encroachments
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Land Use Classifications (5)
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1.Residential
2.Commercial 3Industrial/mfg 4.Agriculture 5.Mixed |
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Govermental Rights in Land
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Police power
Eminent domain Taxation Escheat |
P.E.T.E.
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Estates in Land (2)
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Freehold Estate
Leasehold Estate |
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Freehold Estate
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Interest in property that is possessory and of indeterminante duration and owner holds or will recieve title
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Key items
Possessory / Indeterminate duration / Title |
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Categories of Freehold Estate (3)
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Fee simple absolute (best)
Fee simple defeasible Life Estate |
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Fee Simple Absolute (5)
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Possessory
Indeterminate duration Title Freely Transferable & inheritable Perpetual Most complete bundle of rights |
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Fee Simple Defeasible
(Qualified Fee) |
Possessory
Indeterminate duration * Title Transferable & inheritable * * Subject to conditions |
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Life Estate
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subject to life of specified person
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remainderman or reverter
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Essential Elements of Deed (7)
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Identify the parties
Competent Grantor Words of conveyence Legal description of property consideration given properly executed delivered and accepted by grantee |
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General Warranty Deed
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Covenants of:
seizin quiet enjoyment against encumberances further assurance warranty forever |
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Special Warranty Deed
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warranties only cover granto's period of ownership
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quitclaim deed
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a deed without warranties, usually used to clear clouds on title
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if i own it i convey it
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Bargain and Sheriff Deed
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deed given to buyer at a foreclosure sale
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lead base disclouseure
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Built before Jan 1, 1978
in Colorado building permit before Jan 1, 1978 |
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